Tài chính doanh nghiệpCâu 1231 / 1605
A contractor's income statement is prepared monthly, but the balance sheet is dated December 31. This is because:
a.Both must always be dated December 31
b.The income statement covers a period while the balance sheet is a point-in-time snapshot
c.Balance sheets cannot be prepared monthly
d.The income statement is a snapshot and the balance sheet covers a period
Giải thích
The income statement measures performance OVER a period (e.g., the month), while the balance sheet is a SNAPSHOT at a single date. Both can be prepared at any interval, but they answer different questions: flow versus position.
Luyện miễn phí toàn bộ 1605 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- If a contractor's actual overhead runs 22% of direct costs but he only marks up 15% for overhead, over a year of $500,000 direct costs he under-recovers roughly:
- A balance sheet is said to 'balance' because:
- A contractor factors (sells) $50,000 of receivables to a factor who advances 90% now and charges a 3% fee on the face amount. How much cash does the contractor receive up front, and what is the fee?
- A contractor pays estimated federal taxes of $6,000 per quarter. If he skips a quarter to fund payroll and pays it late, the likely consequence is:
- A contractor with a 2.0 current ratio has $160,000 in current liabilities. What are his current assets?
- A contractor's markup covers overhead and profit. If direct costs are $80,000 and he applies a combined 25% O&P markup, the profit portion is $8,000 while overhead recovery is $12,000. What is the contract price and total O&P?
Cập nhật gần nhất: · quy trình kiểm tra
Sen Lin, Người sáng lập PrepPass · Đối chiếu với California CSLB Contractor License Law & Business Exam · Quy trình kiểm tra
Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)